This book provides a critical, practically oriented examination of the ethical implications of third-party funding in international arbitration, viewed through the lens of legal ethics and the legitimacy and integrity of arbitral proceedings. It clarifies what constitutes appropriate and inappropriate conduct in third-party funding in international arbitration and provides guidance for arbitrators, lawyers, funders, parties, and policymakers navigating this fast-evolving field. With forward-thinking proposals, this book encourages the development of specialized professional standards and ethical rules for arbitration practitioners within an evolving, shared, self-regulatory ethical ecosystem of international arbitration, while also calling for external regulation of third-party funders? conduct through both statutory and market-based mechanisms. The timely information contained in this book supports the evolving needs of the international arbitration community and serves as a valuable guide for professionals navigating this changing landscape. This book combines theoretical underpinnings with practical applications to serve as a resource for researchers, professionals, educators, and students. It provides researchers and arbitration participants with critical insights into the ethical implications of third-party funding in international arbitration, as well as practical guidance, recommendations for ethical standards and rules, and innovative strategies for meeting these challenges.